C A T oil : Management Board and Supervisory Board publish statement on takeover offer made by Joma

• Management Board and Supervisory Board recommend shareholders to accept takeover offer by Joma Industrial Source Corp.

• CEO Manfred Kastner "We have an excellent track record and generated significant shareholder value - over the past three years C.A.T.oil's share price increased by more than 218%."

11, 2014. In this statement, Management Board and Supervisory Board indicate that the offer price of EUR 15.23 is adequate from a financial point of view. However, the bidder's intentions remain, to a large extent, unclear. Management Board and Supervisory Board recommend shareholders of C.A.T. oil AG to accept the takeover offer. The evaluation of the offer price's adequateness is, inter alia, supported by a Fairness Opinion based on marked standard valuation methods, provided by Commerzbank AG, Frankfurt.

Manfred Kastner, Chief Executive Officer of C.A.T. oil AG, said: "The offer price is adequate from a valuation perspective given the current geopolitical and macroeconomic environment. As a Management Board we are convinced that C.A.T. oil is perfectly positioned as it has a proven strategy geared towards profitable growth. We have an excellent track record and generated significant shareholder value - over the past three years C.A.T. oil's share price increased by more than 218%. Moreover, C.A.T. oil enjoys an excellent reputation amongst customers for its reliability and high quality of services."

The full Reasoned Statement by the Management Board and the Supervisory

Board has been posted today on the Company's website at http://www.catoilag.com/upload/Statement_2014-12-19.pdf and publication by announcement in the Federal Gazette (Bundesanzeiger) has been arranged for.

www.catoilag.com

FTI Consulting
Carolin Amann
Phone: +49 (0)69 92037-132
Email: carolin.amann@fticonsulting.com
Steffi Susan Kim
Phone: +49 (0)69 92037-115
Email: steffi.kim@fticonsulting.com

C.A.T. oil AG is one of the leading independent oil and gas field service contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock Exchange (SDAX). C.A.T. oil provides a range of high quality services, which enable oil and gas producers to extend lifecycle of their fields or bring yet unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a leading hy- draulic fracturing service, a very effective method of well stimulation by cracking rock formations with pressurized fluids, in Russia and Kazakhstan. Following its IPO in
2006, the Company developed a second core service of sidetrack drilling in 2006-08 and has established a strong presence in Russia's sidetrack drilling market. Sidetrack drilling is a term used to describe drilling of a new wellbore from the upper section of an existing well. In 2011-12, the Company launched the next phase of its growth and diversification strategy and set up high class drilling operations as a third core service offering. High class drilling is the classical technology of drilling vertical, inclined and horizontal wells for extraction of oil and gas. In total, the Company has already invested more than EUR 450 million in growth and diversification since its IPO in
2006.
Following the successful set up of high class drilling in 2011-12, C.A.T. oil introduced its new segment reporting in 2013 clustering its activities in "Well Services" (fracturing, cementing and completion operations) and "Drilling, Sidetracking and IPM (Integrated Project Management)".
C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas pro-

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ducers such as Rosneft, Lukoil, Gazprom Neft, Tomskneft VNK, Slavneft, Russneft and KazMunaiGaz. The Company has long-standing relationships with these custom- ers and has been a reliable service provider since its market entrance in the early nineties.
C.A.T. oil has its headquarters in Vienna. The Company's 9M 2014 weighted average headcount stood at 2,920 people, most of which are based in Russia and Kazakhstan.

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